Auckland’s average house price rose to a record in December as property values benefited from a lack of supply heading into the peak summer season. The average sale price rose to $700,387 in December, from $684,646 in November and $624,015 in December 2012, according to realtor Barfoot & Thompson. The median price rose 1.2 percent from November to $629,000 and …

Yellow, the directories business seized by its bankers in 2011, is confident it will continue to comply with its debt covenants after gaining waivers for 2014 and will be able to refinance some $414 million of debt due next year. NZ Directories Holdings, which owns the Yellow business, narrowed its net loss of $12.5 million in the year ended June …

Summerset Group, whose shares have made more than three times the gains of the NZX 50 Index in the past 12 months, said sales of occupation rights jumped 50 percent in the fourth quarter from a year earlier. The retirement village operator had 60 new sales and 51 resales in the final three months of 2013, up from 43 and …